ValBrickates Kennedy

The drugmaker posted net income of $398 million, or 24 cents a share, compared with $517 million, or 34 cents a share, for the same quarter in 2007. This year's quarter reflected extensive expenses associated with the takeover of Organon.

Sales for the quarter rose 55% to $4.92 billion, up from $3.18 billion. The drugmaker attributed $1.4 billion of that to Organon, which it bought in November 2007 for $16 billion. A favorable foreign exchange rate contributed 7.6% to the top-line.

According to FactSet Research, Wall Street had been looking for the drugmaker to post a profit of 40 cents a share. Sales were seen around $4.77 billion.

Combined sales of Schering-Plough's newest cholesterol drugs, Zocor and Zetia, fell 9% to $1.1 billion. The drugs are co-marketed with Merck & Co.
MRK, -1.37%
and accounted for separately through a joint venture. Merck also reported its earnings results Monday. See full story

Shares of Schering-Plough and Merck were hammered earlier in the day on news that a new study showed Vytorin was ineffective in treating a cardiac disorder known as aortic stenosis. The researchers also noted that Vytorin users in the study had a slightly higher death rate from cancer.

A combination of Merck's popular cholesterol agent Zocor and a newer drug called Zetia, Vytorin had been regarded as a key future growth driver for both companies. But sales of the product have suffered recently after a controversial study released in January showed it wasn't any more effective in treating heart disease than generic versions of Zocor, which are substantially cheaper.

According to a recent note by Cowen & Co., Vytorin sales were seen as coming in 6% lower at $640 million, while Zetia sales would be down 2% at $595 million.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.